Javer and ICA Announce Termination of Their Agreement to Combine Housing Businesses

Servicios Corporativos Javer S.A.P.I. de C.V
Empresas ICA, S.A.B. de C.V. Logo

MONTERREY and MEXICO CITY, Mexico, May 31, 2013 (GLOBE NEWSWIRE) -- Servicios Corporativos Javer S.A.P.I. de C.V., ("Javer"), one of the largest privately-owned housing development companies in Mexico, and Empresas ICA, S.A.B. de C.V. ("ICA") (BMV:ICA) (NYSE:ICA), the largest infrastructure and construction company in Mexico, today announced that as a result of the lapse of the contractual period of 180 days since the signing of the original accord and based upon the fact that both parties have not reached agreement on the conditions for closing the previously-announced transaction, the parties have decided to terminate their agreements related to the combination of their homebuilding businesses.

This press release may contain projections or other forward-looking statements that reflect Javer's and ICA's current expectations or beliefs concerning future events. Such forward-looking statements are subject to various risks and uncertainties and may differ materially from actual results or events due to important factors such as changes in general economic, business or political or other conditions in Mexico, Latin America or elsewhere, changes in capital markets in general that may affect policies or attitudes towards lending to Mexico or Mexican companies, changes in tax and other laws that could affect business operations, increased costs, unanticipated increases in financing and other costs or the inability to obtain additional debt or equity financing on attractive terms. Other factors as regards ICA include those set forth in ICA's most recent filing on Form 20-F and in any filing or submission ICA has made with the SEC subsequent to its most recent filing on Form 20-F. All forward-looking statements are based on information available to Javer and ICA on the date hereof, and neither Javer nor ICA assumes any obligation to update such statements.

CONTACT: Investor Relations Contacts: Javer Felipe Loera Reyna, CFO Tel: +52 81 1133-6864 floera@javer.com.mx Veronica Lozano, Investor Relations Tel. +52 (81) 1133-6699 Ext. 6515 vlozano@javer.com.mx ICA Victor Bravo, CFO victor.bravo@ica.mx Gabriel de la Concha, CIO gabriel.delaconcha@ica.mx Iga Wolska, Investor Relations Tel: +52 55 5272-9991 ext. 3696 iga.wolska@ica.mx

Source:Empresas ICA, S.A.B. de C.V.